Redfund Client Wahupta Signs First USA-Based Customer

Redfund Capital Corp (CSE:LOAN, Frankfurt:O3X4, OTC:PNNRF) (Redfund or the “Company”) is pleased to announce that Wahupta Ventures’ 100% owned division, Curran Technologies, has signed their first USA extraction system order with Health Care Industries, worth $670,000.

Health Care Industries of Marco Island, Florida, has secured for one of their divisions Curran Technologies’ first USA purchase order. The Curran designed system will consist of four R6 Pro extraction units that can produce both CBD isolate and distillate. Health Care has tendered to Curran a deposit of $216,710 with the remaining $453,290 to be paid upon receipt of the extraction units in the next 3 months.

These recent orders continue to grow Wahupta’s global hemp outreach. Their hydro carbon based, closed loop extraction technology has a modular approach to extraction that can be scaled up as productivity needs increase making the units attractive to diverse licensed producers internationally. Coupled with its S316 L medical grade stainless steel construction, Curran is continuing to establish itself as multifaceted in extraction technology durability, productivity plus scalability.

According to recent estimates offered by the Brightfield Group, the hemp and CBD extraction market in America alone will grow to a $22 billion market by 2022.  The global legal marijuana market size is expected to reach USD 66.3 billion by the end of 2025, according to a new report by Grand View Research, Inc.

“We are working closely with Wahupta management to sign our definitive agreement and help increase their company valuation and revenues. As Canada comes onside with CBD products, few extraction companies in Canada have focused solely on the hemp industry. Cannabis and hemp use different extraction screens and techniques, and we believe Wahupta has created a unique position for their division to build exponentially as legalization in Canada expands and the hemp industry grows globally. The Curran extraction division differentiates Wahupta amongst many of their peers and we feel creates a strong competitive advantage for them as one of the leaders in the burgeoning hemp sector,” stated Meris Kott, CEO.

About Redfund Capital

Redfund intends to provide debt and equity funding in the mid-to-late stages of a target company’s development, or in technologies that are developed and validated by revenues. The present focus of the merchant bank is on medical cannabis, hemp and CBD-related, healthcare-related target companies.

For further information please visit www.redfundcapital.com

For more information on Redfund Capital contact
Meris Kott CEO 604.484.8989
0r info@redfundcapital.com

Further information about the Company is available on www.SEDAR.com under the Company’s profile.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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Source: www.globenewswire.com